Phi (Φ, ϕ) is read as "Phi," pronouncing it with an "f" sound, not a "p" or "fee."
In more detail:
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The correct pronunciation is "fie." It rhymes with "pie" or "sky."
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The sound to produce is similar to the "f" in "fun," not the "ph" in "phone" (though etymologically related).
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Avoid saying "fee" or "pee," as these are incorrect.
Therefore, to pronounce Phi correctly, say it like "fie."